InCore Bank’s new crypto asset solution, established with securitization platform provider GenTwo Digital, allows asset managers and banks for the first time to easily tailor innovative investment products in crypto currencies under their own name.
- Finextra (English)
- Citywire (English)
- Crypto Valley Journal (English)
- The Industry Spread (English)
- Moneycab (German)
- Finews (German)
- Punkt4.info (German)
- Moneytoday.ch (German)
Zurich/Schlieren, July 15, 2021 – Today InCore Bank, the Swiss B2B banking service provider, announced the launch of the first comprehensive crypto asset solution. The securitization solution named CRYSP was established in cooperation with GenTwo Digital, the leading provider of modern securitization platforms for digital assets. The solution allows all asset managers, whether they are from a bank or external, to build bankable products based on crypto currencies, and then offer them to their clients in the form of actively managed certificates (AMC) without having to deal with the entire set-up.
A holistic white labeling offering
Thanks to the white label approach, asset managers and banks are able to implement and offer their crypto strategies to their clients easily and fully compliant. At the same time, AMCs enable active management of structured financial products. In line with the white label approach, banks and asset managers have the option to provide their crypto AMCs with their own fee models and distribute them under their own name.
The entry into this innovative segment is made easy for the sponsors: As a pure transaction bank, InCore Bank takes care of the entire technical and regulatory implementation of the strategies and the issuance and settlement of the corresponding certificates for its clientele.
GenTwo Digital establishes and coordinates the securitization platform and calculates the value of the certificates. InCore Bank operates and represents the crypto asset solution. In parallel, the Zurich-based transaction bank acts as paying agent. The execution of trades and the custody of the assets will be done through Kraken’s leading platform. As the leader in euro volume and liquidity for crypto, clients will get access to more than 70 different assets and trading in 7 different fiat currencies.
«With CRYSP, we are thrilled to make it easier than ever before for banks and asset managers to offer investments in digital assets», said Mark Dambacher, CEO of InCore Bank AG. «The fact that we are close to issuing and trading the first certificates is a testament to the market's dynamism.»
Two asset managers have already announced they will launch investment products using the solution in the second half of 2021. The first products on CRYSP are co-created by Zurich-based DuLac Capital as well as Zug-based CV VC. The two initial crypto asset investment solutions allowing investors to enter this promising segment are: 1) a basket of the eight largest coins traded on Kraken and 2) a selection of so-called DEFI tokens.
About InCore Bank
InCore Bank is a one-stop business-to-business transaction bank founded in 2007, providing banks, securities dealers and fintech companies first-class transaction banking and outsourcing services. As a Swiss corporation with a banking and securities dealer license, InCore Bank offers a comprehensive and modular range of services covering transaction banking for traditional and digital assets, business process outsourcing and other services. This offering enables other market participants to reduce complexity and focus on their core business.
About GenTwo and GenTwoDigital
Zurich-based innovative securitization specialist GenTwo has created a new generation of financial products. The company builds securitization platforms for its institutional clientele and enables professional investors to securitize not only bankable, but also non-bankable assets with a Swiss ISIN. The focus on so-called off-balance-sheet investment products solves the problem of declining margins and growth barriers for many financial market players. It opens up new performance potential by creating access to a theoretically unlimited world of asset classes. Financial intermediaries, including banks, can use GenTwo's setup to realize their product and business innovations. GenTwo Digital is a joint venture based in the Crypto Valley in Zug, Switzerland. It makes digital assets bankable and turns them into conventional securities (investment certificates).
InCore Bank GenTwo Digital
Laragh Welti Sandra Chattopadhyay
Head of Marketing Chief Marketing & Communications Officer
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